Collaboration as a Tool for Middle Market Banking
Product Strategy Manager Bobby Goff highlights how First Financial keeps sophisticated products and services accessible
Finding the right bank for a mid-sized business can be a challenge — many owners feel that community banks can’t meet their needs, while national banks overlook them. Middle-market banking thrives in the sweet spot of a smaller size that encourages personal relationships, while still offering sophisticated services that nurture growth. The rapid rise of digital solutions has made it harder for some middle market banks to stay competitive. This is where collaborating with external resources can offer innovative ways to meet clients’ expanding needs. One successful example of this strategy is the growing collaboration between First Financial Bank and Centime, a financial automation platform now available as part of a treasury management product suite.
The Rise of Automation
Streamlining processes, reducing errors, and automating elements to increase productivity are all great ways to keep a business on a growth trajectory. One First Financial Bank client, a ~$200-300MM annual revenue mortgage services company, was frustrated by their accounts payable (AP) provider. Payments were frequently duplicated by the AP provider due to their system’s lack of connectivity with the company’s ERP, Sage Intacct. This provider also pulled funds from the company’s bank account 5-15 days in advance of payment — the AP provider was earning interest on the idle cash, not the client.
The client mentioned these frustrations to their First Financial Bank Treasury Management Advisor, who brought Centime solutions to their attention. After a demo, the client ultimately chose to add Centime to their First Financial Bank treasury management suite for three main reasons:
- Integration. Centime is embedded within Sage Intacct and boasts a full integration with no middleware or data keying, supporting a clean sync with audit-ready visibility.
- Security. Centime offers secure, controlled payments which eliminated the duplicate payment risk. Additionally, direct bank debiting or crediting allows the client to hold their cash until time of payment.
- Capabilities. The treasury-grade cash forecasting, invoice approval flows, and working capital tools extended the First Financial Banks treasury services the client was already enjoying.
“We view Centime as an augmentation of our treasury relationship with First Financial,” said the CFO of the mortgage services company. “While Centime operates independently, the services closely mirror the treasury capabilities I’ve utilized at major commercial banks. From a treasury management perspective, Centime complements and enhances our existing banking relationship, extending the level of service and value we expect from a full commercial banking partnership.”
Beyond Conventional Services
The strategic alliance between First Financial and Centime unlocks new capabilities that provide value for business clients of many sizes. Many solutions in the marketplace cater to companies sized like the mortgage services client, but First Financial Bank is also seeing demonstrated value for clients with just $2MM in annual revenue. The cutting-edge technology enables enhanced solutions including:
- Accounts Payable Automation: From invoice capture and coding to approval chains and disbursements, Centime delivers a fully automated, interconnected process tied directly to the general ledger, offering bidirectional data flow for streamlined operations and sharper cash flow oversight.
- Accounts Receivable Automation: Centime accelerates inbound payments, cuts down Days Sales Outstanding (DSO), and embeds secure, straightforward payment methods, creating smoother transactions that can deepen and improve relationships with end customers.
- Cash Management Optimization: Backed by AI-driven insights, Centime's tools provide detailed cash flow projections and optimization, equipping clients to manage capital more effectively.
Looking Ahead
The First Financial and Centime collaboration addresses a vital need in middle market clients' financial ecosystem while offering valuable insights into how a forward-thinking fintech company innovates. It is a foundational example of how middle market banks can maintain the infrastructure that offers responsive and personal relationships, while adopting emerging technologies that will redefine the banking experience at the forefront of the financial industry’s ongoing evolution.
If you want to identify possible efficiencies and automation in your cash management practices, reach out to your Treasury Management Advisor to discuss what options have become available thanks to industry collaboration.
About Bobby Goff
Bobby is a technology enthusiast who understands a simple truth: business owners don't wake up passionate about banking — they wake up passionate about their craft and their customers. Yet beneath every great business lies an unavoidable reality: suppliers need to be paid, and revenue needs to flow. This is where Bobby finds his purpose: collaborating to find cash management solutions that give First Financial Bank clients greater control over liquidity and risk, so they can focus on what they do best.